Press Release - Tuesday, September 27, 2022
IDOI Helps Illinois Life Insurance Consumers Collect More than $7.9 Million
Chicago - If you believe that you're the beneficiary of a deceased relative's lost or missing life insurance policy, but you don't know where to start your search, the Illinois Department of Insurance can help. This year, IDOI has already helped consumers find and collect more than $7.9 million from lost or unclaimed life insurance policies, using our Life Policy Locator.
"When families lose a loved one, it's a sad, stressful time and searching for a lost life insurance policy is an added burden," said IDOI Director Dana Popish Severinghaus. "We encourage anyone trying to find unclaimed benefits to use our life policy locator service to get the funds that they deserve."
The National Association of Insurance Commissioners (NAIC) reports that millions of dollars in life insurance benefits remain unclaimed each year. While Illinois law does require insurance companies to attempt to find the beneficiaries of deceased policyholders when life insurance proceeds remain unpaid, IDOI's Life Policy Locator can assist consumers who want to begin the search on their own.
Here in Illinois, you can check for unclaimed life insurance policies at these sites:
- IDOI: https://insurance.illinois.gov/Applications/LifePolicyLocator/
- Illinois State Treasurer: https://icash.illinoistreasurer.gov/
- National Association of Insurance Commissioners (NAIC) Life Insurance Policy Locator: https://eapps.naic.org/life-policy-locator/#/welcome
If you need additional assistance, you can contact the Illinois Department of Insurance at DOI.LifePolicyLocator@illinois.gov or call (866) 445-5364.